SBA

PPP loan forgiveness, BofA’s cost cutting, Amex’s cloud commitment: Top stories of the week

05/29/20

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.

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Mark Cuban, banker Jill Castilla create site to streamline PPP

05/28/20

The pair created a website that will help borrowers in the Paycheck Protection Program apply for loan forgiveness.

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House passes bill giving firms more time to use PPP loans

05/28/20

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.

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SBA designates $10 billion in Paycheck Protection loans for CDFIs

05/28/20

The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase.

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SBA issues guidance on PPP loan forgiveness

05/24/20

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

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PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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Millions of PPP loan-forgiveness requests are about to rain on banks

05/22/20

Companies that received funding from the Paycheck Protection Program in early April can start to submit forgiveness applications at the end of May.

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New York man charged with $20 million PPP and SBA loan fraud

05/21/20

A Manhattan man was charged by federal prosecutors with fraudulently trying to obtain more than $20 million in government loans intended to aid small businesses affected by the coronavirus pandemic.

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An insider account of JPMorgan's PPP approach

05/21/20

Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster.

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Citigroup to buy PPP loans from minority-owned banks

05/20/20

The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.

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